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Lettings on lockdown and the changing preferences for tenant clients

Tenant clients are the letting industry’s fuel and in the changing and testing times that lockdown has brought upon us, the demand for rental properties has reached new levels. Not only have we seen an influx in desire from tenants moving to Edinburgh from other areas of the UK, but they are now beginning to uncover EXACTLY what makes a good rental home and pinpointing what matters most to them and their pattern of life.

We have all had time to reflect and identify aspects of our homes that need improvement or just freshened up. For many tenants, they have discovered how far their budget can stretch and which features they would prefer to prioritise.

In helping to identify these tenant search parameters, Rightmove have published a report which does just that.

At Gilson Gray, we currently have over 50 properties on the market for rent and so can cater to the needs of all tenants from students, to young professionals and families. We have something for everyone.

The most sought after property feature due to lockdown and social distancing has become access to a garden. Tenants are also looking toward their future working arrangement and considering a more comfortable space to do so from home. 34% of people in which lockdown has influenced are looking for home work space, whether this be an extra bedroom or a study area/box room.

Source – Rightmove

Our incredibly unique one bedroom property at Belgrave Crescent Lane boasts a refreshing work space along with a sizeable garden making it highly desirable. Take a look inside, here!  à https://gilsongray.co.uk/property/belgrave-crescent-lane-P2026/

Working from home is not simply a passing trend as more employers are looking towards re-commencing office work from 2021. Many tenants are searching for a permanent or semi-permanent work area and we have a range of properties on the market that can facilitate this! One of these includes this beautifully presented two bedroom property with dining room/study on Fettes Row in the heart of Edinburgh’s New Town à https://gilsongray.co.uk/property/fettes-row-P1904/

The lettings market has always had the benefit of flexibility for tenant clients and grants the opportunity to live in a specific area that may be out of reach to purchase outright.

Buying property at this point in time may not be the safest option as although the market is buoyant, renting entails less risk and this has influenced the thoughts of potential buyers now turning their heads to lettings.

Source – Rightmove

Potential buyers may now not have the financial capability to proceed with their plans due to furlough or reduced salaries. The uncertainty within the housing market may also mean that buyers are looking to hold off on investing due to the possibility of house prices dropping. As a letting agent, we haven’t experienced this level of unpredictability as renting provides both long-term and short-term benefits to tenants with limited risk.

We have a selection of properties that are affordable family homes with great nearby outdoor space perfect for the kids, like this one at Colinton Mains Terrace à https://gilsongray.co.uk/property/colinton-mains-terrace-P2001/

It may be the case that a lot of tenants weren’t sure what they wanted or needed prior to lockdown. The impact of spending more time at home during working hours and downtime, has led tenants to revaluate what they want and take the steps to find a more suitable home.

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